-6- would have the purchaser sign a note and “put me on the lien on the house.” Petitioner did not, however, introduce any of these alleged notes or any other documentation regarding these “loans.” Regarding office expenses, petitioner explained he operated both of his businesses from one office and testified that the two businesses shared expenses, such as phone lines, secretaries, and other office workers. Petitioner did not introduce any documentation, however, to show the amount of any of these office expenses. In addition, petitioner testified that he was licensed with “realty commissions,” the “Insurance Department,” and the National Association of Securities Dealers. Yet petitioner did not introduce photocopies of any of these licenses, nor did petitioner have any invoices or documented proof of payment for the alleged annual licensing fees. Petitioner also testified that he was annually assessed personal property tax on the assets in his businesses, yet he did not introduce any documentation regarding these expenses. Regarding advertising expenses, petitioner testified that he spent money on “leads”--mass mailings undertaken by advertising companies, as part of his insurance and investment business, but he did not testify or submit documentation regarding the advertising expenses he incurred in his real estate business.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Next
Last modified: May 25, 2011